ATLANTA (August 14, 2019) – Shorenstein Properties announced today that it signed a multi-floor lease at Bank of America Plaza to serve as the global headquarters of PrimeRevenue, Incorporated, a leader in business-to-business fintech providing working capital finance technology solutions to companies ranging from the mid-market to the Fortune 500. PrimeRevenue’s decision to relocate to the 48,844-square-foot space covering two floors, in the premiere south Midtown site, is in support of its significant global growth and its continued focus on being culture centric. The neighborhood is itself in growth mode, due to its rapid emergence as a walkable live-work-play community that continues to attract a wide range of TAMI sector firms from metro Atlanta and beyond.
“PrimeRevenue has grown its employee base 26 percent thus far in 2019, with an additional 30 percent growth planned this year,” said Michelle Kilroy, Head of People and Talent. PJ Bain, the CEO of PrimeRevenue, Incorporated, commented further to say “This has led to the decision to double the location space of our global headquarters in Atlanta. Bank of America Plaza is a fantastic fit for our commitment to providing our current and future employees with a custom-built space designed to support our collaborative culture and values.”
PrimeRevenue will move into its new offices in the 4th quarter of 2019. The company’s new, purpose-built workspace will include upgraded technology, extensive corporate values branding, open layouts with lofty ceilings, creative lounge areas and numerous collaboration spaces designed to enhance both the employee and candidate experience as well as PrimeRevenue’s innovative culture and global TEAM excellence.
“We are pleased to welcome PrimeRevenue to Bank of America Plaza, which has become a magnet for top talent in the heart of Atlanta’s largest tech hub,” said Christopher Caltabiano, Senior Vice President of Asset Management at Shorenstein Properties. “The ongoing renaissance in South Midtown combined with new state-of-the-art amenities at the building create the ideal environment for PrimeRevenue as it enters its next chapter of growth. Leasing momentum at Bank of America Plaza remains strong, and we look forward to forging more partnerships through the remainder of 2019.”
More than 100,000 square feet of leasing agreements have been signed at Bank of America Plaza over the last 12 months due to increased demand for next-generation space in south Midtown. Shorenstein also recently completed a $10 million renovation to the building’s West Wing that delivered modern amenities, workspace and Marketplace 600, a 17,000-square-foot food hall.
“Having a respected firm like PrimeRevenue, Incorporated, leave the historic core of Midtown for a new opportunity in the SoNo district provides further proof that the epicenter of the submarket has shifted south,” said Jeff Keppen, Executive Vice President of CBRE. “This trend will only accelerate in the next decade ahead as new projects that enhance walkability and raise the overall user experience continue to come online.”
Established in 2003, PrimeRevenue, Incorporated, has 200 plus employees around the globe, and is dedicated to providing services for over 30,000 clients in 70 countries to optimize their working capital and efficiently fund strategic initiatives supporting their competitive advantage. The company’s supply chain finance network supports more than 30 currencies on a single cloud-based, multi-lingual, cross-border network which sees a volume of more than $200 billion in payment transactions per year. PrimeRevenue, Incorporated, is the only supply chain finance provider offering hands-on, 24/7 global support both patent approved and pending technology.
The crown jewel of Atlanta’s skyline, Bank of America Plaza is home to both fast-growing tech firms such as Featurespace, Flexport, Convoy, Revel Systems, and Riskalyze, as well as established legal and professional services firms like Troutman Sanders and Bank of America.
About Shorenstein Properties LLC
Shorenstein is a privately owned real estate firm active nationally in the ownership and management of high-quality office and residential properties, with offices in San Francisco and New York. Shorenstein’s portfolio includes properties owned by the Shorenstein family through its affiliates Shorenstein Company LLC and Shorenstein Residential Equity Investors, as well as properties owned by a series of closed-end institutional funds sponsored by Shorenstein Properties LLC. These funds, with equity commitments totaling $7.9 billion, have invested in properties totaling 62.6 million square feet in transactions with a gross investment value in excess of $14.9 billion. Shorenstein Properties LLC is currently investing its eleventh fund, which has total equity commitments of $1.2 billion. Shorenstein uses its integrated investment and operating capabilities to take advantage of those opportunities which, at the particular time in the investment cycle, offer the most attractive risk-adjusted returns. Investments have included land entitlements, ground-up developments, asset repositionings and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. For more information, visit shorenstein.com.